derpinheimer
Legendary
 Offline
Activity: 896
Merit: 1000
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January 28, 2015, 05:44:21 PM |
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It will be even better if we do go up significantly again, proving the uptrend to be real and sustainable this time. The market is still completely paralyzed and shattered after a year of bleeding out. Regaining trust takes some time!
Personally I think that Coinbase pump and dump removed a significant amount of confidence and trust that was being slowly rebuilt. Lotta people got burnt AGAIN by obvious insider trading OKCoin is still sitting with 14,000 futures contracts they need to liquidate at $275 and above ... Their insurance fund is now annihilated and traders there will be taking a significant haircut this week on their gains unless we get above that level by Friday morning Anyone who buys futures there today or tomorrow has a high chance of buying into a guaranteed socialised loss Well it was disappointing, yeah, but if we actually overcome it, things will be looking even more bullish. What if everyone expects the market to go down... It goes up - we all know Bitcoin, don't we? But I agree that the debacle on OKCoin doesn't look good. But keep in mind: Coins/FIAT doesn't "disappear", it merely changes its owner who may invest it again. What do futures mean and do to the "real" market? I dont really understand what they are or why they are traded -- if you dont mind explaining Simply a gamble on the future BTC price (e.g. every Friday) winner gets the BTC deposited by the loser. The effect to real market: the most important one is that now people have chance to gain from price going down. With high leverage, they can dump in the real market and earn more than their loss from shorting on the future market. With the earned BTC, they can dump again... Interesting. So then these 14,000 contracts represent real coins? |
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YourMother
Legendary
Offline
Activity: 1281
Merit: 1046
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January 28, 2015, 05:50:42 PM |
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It's on, delusional fucks! 
Max your credit cards and pump this shit! |
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samsonn25
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January 28, 2015, 05:52:11 PM |
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It will be even better if we do go up significantly again, proving the uptrend to be real and sustainable this time. The market is still completely paralyzed and shattered after a year of bleeding out. Regaining trust takes some time!
Personally I think that Coinbase pump and dump removed a significant amount of confidence and trust that was being slowly rebuilt. Lotta people got burnt AGAIN by obvious insider trading OKCoin is still sitting with 14,000 futures contracts they need to liquidate at $275 and above ... Their insurance fund is now annihilated and traders there will be taking a significant haircut this week on their gains unless we get above that level by Friday morning Anyone who buys futures there today or tomorrow has a high chance of buying into a guaranteed socialised loss Well it was disappointing, yeah, but if we actually overcome it, things will be looking even more bullish. What if everyone expects the market to go down... It goes up - we all know Bitcoin, don't we? But I agree that the debacle on OKCoin doesn't look good. But keep in mind: Coins/FIAT doesn't "disappear", it merely changes its owner who may invest it again. Where there are losers there are winners too. |
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ChartBuddy
Legendary
Offline
Activity: 2170
Merit: 1776
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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January 28, 2015, 06:00:01 PM |
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luckygenough56
Legendary
Offline
Activity: 1526
Merit: 1012
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January 28, 2015, 06:01:20 PM |
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did put some buy orders at 76 dollars
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damiano
Legendary
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Activity: 1246
Merit: 1000
103 days, 21 hours and 10 minutes.
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January 28, 2015, 06:02:16 PM |
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did put some buy orders at 76 dollars
Buying at 76 would be pretty sweet |
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phoenix1
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January 28, 2015, 06:05:23 PM |
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Where there are losers there are winners too.
Tru, but the market requires 'sustainable shearing' and/or lots of new lambs in order to function at its best 
Interesting. So then these 14,000 contracts represent real coins?
They represent approx 4.5k of BTC price exposure, but can be purchased on margin. It is still by no means a small position. It's bigger than any of their top 10 holders (biggest is 13k contracts, the rest are all 3-5k) I guess that 13k might be the other side of this trade ! |
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RCan06
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January 28, 2015, 06:29:33 PM |
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Man it gets quiet in here when the price is teetering on the edge either up/down.
Everyone too busy chewing their finger nails off?
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TankHankerous
Jr. Member
Offline
Activity: 55
Merit: 1
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January 28, 2015, 06:30:35 PM |
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I'm trying to decide when to buy in again
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derpinheimer
Legendary
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Activity: 896
Merit: 1000
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January 28, 2015, 06:32:38 PM |
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Edit: I just realized that the USD swaps may include LTC longs as well.
I think your correct Good point. Probably no more than $200,000 of it though, so very insignificant. Look at the ltc short interest and compare it to btc Yes, and the number you'd get is like $100k USD LTC longs if the ratio is kept the same. |
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YourMother
Legendary
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Activity: 1281
Merit: 1046
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January 28, 2015, 06:32:47 PM |
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The price should've been $210 by now, but Tim Draper keeps buying them tulips out of frustration.
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derpinheimer
Legendary
Offline
Activity: 896
Merit: 1000
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January 28, 2015, 06:34:24 PM |
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BTC3,500 dump on BFX just now
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ghandi
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January 28, 2015, 06:35:10 PM |
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Seems to get serious now  |
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KryptoFoo
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January 28, 2015, 06:36:00 PM |
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running all the stops
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Shak
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January 28, 2015, 06:36:17 PM |
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lots of people trying to catch the knive
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derpinheimer
Legendary
Offline
Activity: 896
Merit: 1000
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January 28, 2015, 06:37:46 PM |
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Look at pathetic BTCChina, supposedly the volume leader.. cant even break down a BTC1,400 wall. They're falling behind because the wall is too large to break.
Pathetic. That exchanges real volume is probably <20K a day, not >200k
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bassclef
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January 28, 2015, 06:39:05 PM |
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Whee, glad I kept my short open from $300.
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aztecminer
Legendary
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Activity: 1092
Merit: 1000
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January 28, 2015, 06:39:42 PM |
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 'chinese panic' flash dumps have taken out 260. |
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YourMother
Legendary
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Activity: 1281
Merit: 1046
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January 28, 2015, 06:40:31 PM |
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Ok it is Wednesday now. Always big volume day historically.
I'm thinking we will see a major pump today. Prepare your fiat/coins!
I bought in just now at 258.
Keep holding and never lose hope |
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derpinheimer
Legendary
Offline
Activity: 896
Merit: 1000
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January 28, 2015, 06:41:21 PM |
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Whee, glad I kept my short open from $300.
According to BFXData, this massive dump is not the product of new shorts. Actually, about 300BTC of shorts closed during the dive. And $100k of new longs. So those knife catchers are actually just people closing shorts and going long. |
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